Bitcoin has recently formed a chart pattern that even the most confident dip buyers are reconsidering their leverage positions today. On the weekly BTC/USDT chart, with the price hovering near $88,690, traders should be cautious as a death cross formation is looming, with roughly two days remaining in the current candle.
This situation is less about hype and more about technical signals playing out. Bitcoin’s price currently sits below two critical weekly moving averages—the 23-week and 50-week—positioned around $101,870 and $106,528 respectively on TradingView. This means every upward move encounters resistance from sellers who missed earlier exit points.
The shorter-term moving average is trending downward toward the longer-term one; if it crosses beneath it, this will confirm a death cross pattern. This potential crossover has reignited discussions about bearish scenarios for Bitcoin’s near future.
Given these conditions, there appear to be only two primary paths forward for Bitcoin at this moment.
What Are Bitcoin’s Possible Price Paths Right Now?
If Bitcoin manages to reclaim and sustain a position within the $101,870 to $106,528 range by closing above it on a weekly basis, then concerns surrounding the death cross would diminish significantly. In that case, clearing the next resistance level at approximately $107,155 would become crucial.
Conversely, if Bitcoin fails to hold above these averages on a weekly close basis, focus shifts toward support levels starting at around $80,600. Should selling pressure persist beyond this point—with another drop pushing prices down toward roughly $74,111—the market sentiment could turn increasingly negative. A decisive break below $80,600 would shift conversations from mere buying opportunities into serious risk management territory because then attention turns to an important support zone near $67,026 where the 200-week moving average lies.
A decline of about 25% from today’s level of approximately $88,690 brings us close to that critical ~$67,000 mark—a figure often regarded as symbolic but which may soon become very real indeed.
While Bitcoin hasn’t yet triggered an official death cross signal, the charts are challenging buyers to demonstrate strength in upcoming weeks. The outcome of several forthcoming weekly closes will determine whether we’re witnessing just a temporary pause or potentially entering another significant downward phase.